Alcan set to pounce on acquisition targets

Article Abstract:

Alcan Aluminium Ltd of Montreal, Canada, is targetting weaker rivals as potential acquisitions or merger partners. The company said that its cash reserves and strong balance sheet would support its plans. The new plan, which is aimed to increase its annual pretax earnings by C$700 million over the next three years, will be supported with a C$623-million war chest. Alcan CEO Jacques Bougie said that the industry will undergo a period of consolidation as result of low aluminum prices.

Aluminum industry, Aluminum products, Alcan Aluminium Ltd.

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Alcoa poised to shed Canadian identity

Article Abstract:

Alcan Aluminum Ltd's merger with France-based Pechiney SA and Switzerland- based Alusuisse Lonza Group AG will reduce its presence in Canada. Although the merged company will be based in Montreal, Canada, only around 11,000 of the new company's 91,000 employees and four of its 12 directors will work in Canada. The merged firm is temporarily called Alcan-Pechiney- Algroup or APA.

France, Switzerland, Alcan Inc., Pechiney S.A.

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